What are the responsibilities and job description for the Collections Representative position at Tential?
Description
To control / collect on past due Consumer Loan and Credit Card accounts for all stages of delinquency, in accordance with all government and Credit Union rules and regulations. Provide member financial counseling and mitigate loss for the Credit Union. Collect on 31-60 days delinquent accounts. Work independently on progressively more complex default accounts. Work with members to present
recommendations for complex Consumer / Credit Card collection solutions. Process settlements, repossessions and / or negotiate loss mitigation offers to mitigate loss / risk. May provide advice / guidance to Delinquency Control Counselor I / II. Work with minimal supervision. Responsibilities
Contact delinquent members in an attempt to cure delinquency utilizing all payment options and loss mitigation tools offered.
Obtain detailed financial information from delinquent members and analyze information gathered to determine optimal solutions for curing delinquency
Notate in Collection systems members' arrangements, reason(s) for delinquency, and any offered charge-off alternatives offered to members
Maintain working knowledge of the federal and state consumer protection laws (Unfair, Deceptive, or Abusive Acts or Practices; Fair Debt Collection Practices Act; Fair Credit Reporting Act; Servicemembers Civil Relief Act; etc.)
Perform manager share transfers for amounts up to authorized limits
Offer short / long term solutions including repayment plans, promises-to-pay, loan modifications, refinances, personal finance management, and deferral programs
Explain and communicate relinquishing options such as settlements
Provide guidance and coaching to less experienced staff
Maintain awareness of changes in regulatory requirements and practices
Ensure required notifications, including collection emails, letters, and any applicable state / regulatory letters, are sent timely to members
Provide required reporting to supervisors, as well as specialized reports to management (including daily in-house, activity trends, and payment tracking)
Use online tools and contact appropriate parties
Perform other related duties as assigned or appropriate
Qualifications
Significant experience in collecting and negotiating on delinquent Consumer / Credit Card accounts
Advanced knowledge of Consumer / Credit Card collection servicing accounts
Working knowledge of bankruptcy, settlements, default reporting, repossession, loss mitigation and charge-off
Advanced knowledge of federal and state consumer protection laws (Unfair, Deceptive, or Abusive Acts or Practices; Fair Debt Collection Practices Act; Fair Credit Reporting Act; Servicemembers Civil Relief Act; etc.)
Desired - Working knowledge of Navy Federal processes and different types of transactions
Effective skill to work independently on progressively more complex Consumer / Credit Card default accounts
Effective skill in researching accounts, public records, internet, and other resources to identify means of contacting delinquent members
Advanced planning, organizational, and time management skills
Advanced research, analytical, and problem solving skills
Effective verbal and written communication skills
Effective skill exercising initiative and using good judgment to make sound decisions
Advanced skill following, interpreting, and applying relevant data / instructions to guidelines, procedures, practices and regulations
Advanced skill navigating multiple screens and PC applications and adapting to new technologies
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